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Monday, July 18, 2011

PHYSICIAN LOAN REPAYMENT PROGRAM SOLVENT FOR NEXT TWO YEARS OF PAYMENTS

Despite huge budget cuts, physicians currently in the state’s underserved area Physician Education Loan Repayment Program will see their loans covered for at least three of their four years, the Texas Higher Education Coordinating Board (THECB) has informed us. The legislature cut funding for the program by 78 percent for the next two years, a loss of $17.4 million. THECB says it has enough funds to provide loan repayment to physicians currently in the program for at least three of their four-year service commitments. These projections are based on assumptions of maximum annual loan payouts and no dropouts. Availability of funds to cover the final year will depend on what the legislature does in 2013. While this does not allow for the growth we had hoped for in the next biennium, this news at least calms concerns that repayments might halt immediately.

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